Simplot Completes Acquisition of Clarebout Group

The strategic deal expands Simplot's service to customers and global frozen potato capabilities.

The Simplot Company, a privately held global food and agriculture company headquartered in Boise, Idaho, has completed its acquisition of Clarebout Potatoes, a leading European producer of frozen potato products based in Belgium.

This milestone marks the successful culmination of a strategic acquisition announced earlier this year that brings together two family-owned companies with deep agricultural roots and a shared commitment to quality, sustainability, and innovation.

"We are proud to welcome Clarebout to Simplot. This acquisition strengthens our global footprint and enhances our ability to serve existing and new customers," said Garrett Lofto, President and CEO of Simplot. "Clarebout's legacy of excellence and innovation aligns perfectly with Simplot's values and vision for the future."

The acquisition marks an exciting new chapter for Clarebout, which was started by Jan Clarebout in Nieuwkerke (West Flanders, Belgium) 37 years ago.

"Joining Simplot is a natural evolution for us," said Jan Clarebout, CEO of Clarebout Potatoes. "We've found a partner that shares our values, our respect for people and the planet, and our ambition to grow sustainably. Together, we are better equipped to meet the challenges and opportunities of a changing global food landscape."

The acquisition increases Simplot's global frozen potato processing capabilities, with five new locations bringing the total number of food production facilities to 23 worldwide. The expansion into Europe enables Simplot to provide existing and new customers with localized supply and enhanced service across key markets around the world.

"This is an exciting time for our Global Food business," said Graham Dugdale, President of Simplot Global Food. "Clarebout brings complementary capabilities and a strong European presence that will help us better serve our customers and communities. We look forward to building on this foundation together."

BofA Securities acted as exclusive financial advisor and Bank of America led the acquisition financing for Simplot. Lazard was Clarebout's financial advisor. Legal advisors for the transaction included Gibson, Dunn & Crutcher LLP, Loyens & Loeff BV/SRL for Simplot and Eubelius for Clarebout.

About Simplot

Simplot is a family-owned, privately held global food and agriculture company headquartered in Boise, Idaho. Its integrated portfolio of companies includes food processing and food brands, phosphate mining, fertilizer manufacturing, farming, ranching and cattle production, and other enterprises related to agriculture. Simplot has major operations in nine countries with products and services available to customers worldwide. For more information, visit https://www.simplot.com.